MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $80.28 Million Stock Position in PACCAR Inc. $PCAR

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH has increased its holdings in PACCAR Inc. by 6.2%, now owning about $80.28 million worth of stock, which constitutes 2.3% of its total holdings.
• PACCAR reported earnings of $1.37 per share for the last quarter, surpassing analyst expectations, though its revenue decreased by 15.7% compared to the same period last year.
• The company has announced a quarterly dividend of $0.33 per share, representing an annualized rate of $1.32, with a payout ratio of 22.60%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 844,469 shares of the company's stock after purchasing an additional 49,523 shares during the period. PACCAR makes up about 2.3% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings, making the stock its 4th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned 0.16% of PACCAR worth $80,275,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Farmers & Merchants Investments Inc. grew its position in shares of PACCAR by 33.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after purchasing an additional 116 shares in the last quarter. RMR Wealth Builders grew its stake in shares of PACCAR by 1.4% in the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock worth $848,000 after buying an additional 122 shares during the last quarter. Applied Capital LLC FL boosted its stake in PACCAR by 0.5% during the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock valued at $2,455,000 after purchasing an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock valued at $4,390,000 after purchasing an additional 130 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock valued at $228,000 after purchasing an additional 130 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

PACCAR Stock Down 0.9%

Shares of NASDAQ:PCAR opened at $96.89 on Thursday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The business has a 50 day simple moving average of $98.92 and a two-hundred day simple moving average of $95.84. The firm has a market capitalization of $50.88 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the business earned $2.13 earnings per share. The company's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's payout ratio is currently 22.60%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent analyst reports. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Citigroup raised their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Truist Financial decreased their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Finally, UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and raised their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $107.68.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.

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